On the second day of bidding, the public issue of Jyoti CNC witnessed a subscription rate of 3.2 times. Investors have submitted bids for 5.7 crore shares against the available 1.75 crore shares. Retail investors have showcased remarkable interest, oversubscribing their quota by an impressive 10.16 times. Meanwhile, high net-worth individuals (HNIs) secured bids that were 5.2 times higher than their allotted portion, whereas qualified institutional buyers (QIBs) subscribed only 0.02 times of the set quota.
The company’s objective in going public is to amass Rs 1,000 crore. This offering comprises an entirely fresh issue of 3.02 crore shares within a price band ranging between Rs 315 and Rs 331 per share. Investors have time until January 11 to participate, and the stock is projected to debut on both the NSE and BSE by January 16.
Before the launch of the issue, the company managed to raise Rs 447.75 crore from 37 anchor investors. Noteworthy names such as Goldman Sachs, Nomura Funds, Natixis International Funds, Neuberger Berman Emerging Markets Equity Fund, Optimix Wholesale Global, The Master Trust Bank of Japan, Prudential Hong Kong, Carmignac Portfolio, Allianz Global Investors Fund, and Eastspring Investments India Fund demonstrated their confidence in the Rajkot-based company by investing in it.